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Prepare tax Return. form 1 1 2 0 , schedule M - 3 , Schedule D , Schedule G , Form 4 5 6 2

Prepare tax Return. form 1120, schedule M-3, Schedule D, Schedule G, Form 4562, Schedule 1125
the accrual method of accounting (GAAP)
The dividends received by DC during the year were paid by Apple, Inc. (DC owns less than 20% of Apple, Inc.'s stock). DC had its sole municipal bond (City of Florida) redeemed (bought back) in the current year.
DC originally purchased the City of Florida bonds on February 1,2017 for $100,000(no premium or discount paid).
February 1,2023, for $100,000. Both tax basis and proceeds received on this transaction were reported to DC on a Form 1099-B.
DC purchased 200 shares of Apple, Inc. on June 30,2018, for $100,000(including commission). On July 10, of the current year, DC sold the 200 shares of Apple, Inc. for $350 a share (including commission). Both tax basis and proceeds received on this transaction were reported to DC on a form 1099-B.
During the year, DC contributed $8,000 to the American Lung Association.
On December 10, DC paid Chance Advertising $27,500 to design a new catering advertisement campaign for next year. This money represented half of the total $55,000 contract price. DC expects that the services will be provided and delivered to DC on about June 30,2024.
DC prepaid an insurance premium of $21,000 in September. The new policy is effective October 1,2023, through September 30,2024.
DC's regular tax depreciation for the year is correctly calculated as $350,000 before considering the current year fixed asset additions of $840,000. DC wants to claim the fastest recovery method(s) possible on these asset additions without electing any $179 expensing.
On November 1, a large insurance company paid DC a $100,000 deposit to reserve catering event services on March 18,2024. The deposit is fully refundable until January 15,2024. Thereafter, half of the deposit becomes non-refundable.
Meal expenses were incurred for clients and DC staff at important meetings where business was conducted. DC did not incur any entertainment-related expenses in 2023.
DC values its inventory at cost and has always used the specific identification method for reporting purposes. The company has never written down any inventory for any reason and the rules of Section 263A (UNICAP) do not apply to DC.
DC made the following estimated Federal income tax payments: o April 15th,2023:$10,000
o September 15th,2023:$10,000 o June 15th,2023:$10,000
o Recember15...2023:$5,000
If applicable, DC wants any overpayment refunded.
DC did not make any dividend distributions or distributions in excess of current and accumulated earnings and profits during the current year.
DC has never disposed of more than 65%(by value) of its assets in a taxable, nontaxable, or tax-deferred transaction.
DC's average annual gross receipts have never exceeded $26 million annually.
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